Louisville Family Law®

Preparing in advance when Kentucky divorce is on the horizon

Preparing in advance when Kentucky divorce is on the horizon

Posted By
Louis P. Winner

Kentucky weddings can range from a simple trip to the court house, to an
elaborate and costly celebration. In fact, so can divorces. A divorce
can range from simple and amicable, to costly and contentious. However,
there are ways for spouses in Kentucky to plan ahead if it seems like
a divorce is pending, to help things run more smoothly, as well as protect
their individual interests.

One way one can prepare for a divorce is to know what one owns. This includes
not just marital property and non-marital property, but also all sources
of income, as well as debts. Some of this documentation can be difficult
to track down once divorce proceedings have started, so having it ready
ahead of time can be a good thing. Nonetheless, hiding property is not
a good idea and can hurt a spouse in the long run.

Another thing each spouse should do is watch their credit. It may be a
good idea to open an individual credit card account, and remove one's
name from joint cards during the divorce process. This can protect a spouse,
if the other spouse tries to rack up credit expenses, before the divorce
is final. It can also help with transparency, since, as mentioned above,
spouses should not hide assets.

In addition, it is not a bad idea to save money for a divorce. Not only
will one have to pay for attorney fees and other divorce expenses, but
they will also need money to establish an individual household once the
divorce is final. Many couples decide it is for the best to sell the family
home. When this happens, it is a good idea to have a nest egg in place.

Finally, it is important to remember that not every divorce has to lead
to emotional and expensive litigation. In many cases, with the help of
an attorney, couples can negotiate a divorce settlement out-of-court.Property division issues can be made fairly, including deciding how to equitably divide
marital property. This may mean selling some property and splitting the
proceeds, or allocating personal property to one spouse or the other.
In the end, spouses can prepare themselves beforehand when divorce is
on the horizon.